With a loaded calendar this week that includes the September Fed meeting, housing sector data and earnings, and more headlines out of the US-Iran war that should keep energy prices front and center, traders should be ready for high-volatility equity moves.
Old-school market analysis tells us that new 4-week highs and lows act as key pivot points for price action. This week's 4-week low for the Invesco QQQ Trust (QQQ), which proxies the benchmark Nasdaq-100 Index ($IUXX), comes in at 702.70.
